iSonea Announces Changes to Board of Directors
SEVERNA PARK, Md.--(BUSINESS WIRE)--Apr 3, 2012-- Medical technology company iSonea Ltd. (ASX: ISN; OTCQX: ISOAY) today announced that Dr.
Ross Macdonald and Dr. Stewart Washer have been appointed to join iSonea's Board of Directors (BOD) and Mr. Donal O'Dwyer has been selected as a special advisor to the Board, effective April 3, 2012.
Concurrently, Mr. Paul Hopper and Mr. Fabio Pannuti will step down from their positions as Director as of March 31, 2012.
"We thank both Paul Hopper and Fabio Pannuti for the many contributions they have made to iSonea through their experience and leadership as Directors," said Ross Haghighat, Chairman of the Board of iSonea Ltd. "They have played a pivotal role in positioning the evolving company for a successful future. We are also extremely pleased to welcome such esteemed new members to our Board." "We are excited to gain the extensive expertise and insights that Dr.
Ross Macdonald and Dr. Stewart Washer will bring to the commercialization opportunities that lie ahead for us, as iSonea achieves significant milestones and introduces innovative medical devices and mobile health solutions to the world's key markets for asthma and other respiratory disorders," said Michael J. Thomas, iSonea Chief Executive Officer. "iSonea is at the forefront of changing the way asthma is managed around the world. The addition of Dr. Macdonald and Dr. Washer to our board, and the addition of Mr.
O'Dwyer as an advisor, will enhance iSonea's leadership during these exciting times." Dr. Macdonald brings extensive local and international biomedical experience in general management, technology commercialization, capital raising and business development, including licensing, mergers and acquisitions. He was formerly Managing Director and CEO of Living Cell Technologies Ltd. (ASX: LCT; OTCQX: LVCLY), a development stage biotechnology company focused on therapeutics for type-1 diabetes, Parkinson's disease and stroke.
Dr. Macdonald is currently a Member of the Investment Committee of Uniseed Management Pty Ltd., a venture fund established to commercialize research outcomes from the Universities of Queensland, Melbourne and New South Wales, and serves as a Director for pharmaceutical development companies Telesso Technologies Ltd. (ASX: TEO) and Hatchtech Pty Ltd. Previously, he was Vice President, Business Development for Sinclair Pharmaceuticals Ltd., Vice President of Corporate Development for Stiefel Laboratories, Inc., and was Vice President of Business Development for Connetics Corporation when it was acquired by Stiefel. He was also Vice President of Research & Development for F.H. Faulding & Co, Ltd., Australia's largest and oldest pharmaceutical company.
Dr. Washer has 15 years of senior executive and Board experience at medical device, drug development and agrifood companies. He was a venture partner with Inventages, a Nestle fund and is currently Investment Manager with IB Managers, which manages Australian life-science funds. Dr. Washer was previously the CEO of Calzada Ltd.
(ASX: CZD); the founding CEO of Phylogica Ltd. (ASX: PYC); CEO of Celentis; and managed the commercialization of intellectual property from AgResearch in New Zealand. He has held a number of Board positions, including Chairman of Resonance Health Ltd. (ASX: RHT) and Hatchtech Pty Ltd.; and Director of iCeutica Pty Ltd. and AusBiotech Ltd. He was also a Senator with Murdoch University and is currently a Director of Healthlinx Ltd. (ASX: HTX) and Immuron Ltd. (ASX: IMC).
Mr. Donal O'Dwyer brings extensive worldwide sales, marketing, product development and manufacturing operations experience in the healthcare products and medical device industries. He was formerly Worldwide President of Cordis Cardiology, a Johnson & Johnson Company, during which time he re-established their position as a leader in international cardiology with the development and launch of the revolutionary Cypher coronary stent. He oversaw the growth of that business from USD500M per annum to over USD2B per annum.
Mr. O'Dwyer is currently Deputy Chairman of the Board at Mesoblast Limited (ASX: MSB; OTC ADR: MBLTY), the world's leading developer of biological products for regenerative medicine. He is also a member of the Board at Cochlear, the leading global hearing solution company.
Previously, he was President of the Cardiovascular Group, Europe, for Baxter Healthcare. He was chairman of the Board of AtCor Medical and has served as Director on the Boards of Angioblast Systems and Sunshine Heart.
About iSonea Limited iSonea Limited (ASX: ISN; OTCQX: ISOAY) is an emerging medical technology company developing innovative, non-invasive devices and mobile health apps to improve the management of chronic, costly respiratory disorders such as asthma and COPD. By leveraging iSonea's proprietary Acoustic Respiratory Monitoring(TM) (ARM) technology with its AsthmaSense(TM) mobile applications, iSonea is turning smartphones into medical devices-enabling anyone, anywhere, at any time to monitor breathing distress symptoms, in order to take action. iSonea's ARM devices have been cleared for use by the U.S. Food and Drug Administration, the Australian TGA and the European Union CE. For more information, please visit www.iSoneaMed.com.
Forward-looking Statements Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on iSonea's current expectations, estimates and projections about the industry in which iSonea operates, and its beliefs and assumptions. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "guidance" and similar expressions are intended to identify forward-looking statements and should be considered an at-risk statement. Such statements are subject to certain risks and uncertainties, particularly those risks or uncertainties inherent in the process of developing technology and in the endeavour of building a business around such products and services. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond the control of iSonea, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. iSonea cautions shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of iSonea only as of the date of this release. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. iSonea will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.
CONTACT: iSonea Limited Michael J. Thomas, +1 410-777-5251 Chief Executive Officer mthomas@iSoneaMed.com www.iSoneaMed.com or Schwartz MSL Boston Helen Shik or Jennifer Netzband, +1 781-684-0770 iSonea@schwartzmsl.com www.schwartzmsl.com KEYWORD: UNITED STATES NORTH AMERICA MARYLAND INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY MEDICAL DEVICES PHARMACEUTICAL GENERAL HEALTH SOURCE: iSonea Ltd.
Copyright Business Wire 2012 PUB: 04/03/2012 09:00 AM/DISC: 04/03/2012 09:00 AM http://www.businesswire.com/news/home/20120403005528/